Meyer Malka Sells 50,959 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) major shareholder Meyer Malka sold 50,959 shares of Root stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $84.78, for a total value of $4,320,304.02. Following the sale, the insider now directly owns 102 shares in the company, valued at approximately $8,647.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Root Stock Up 0.0 %

Shares of ROOT opened at $70.98 on Wednesday. The company has a market capitalization of $1.06 billion, a P/E ratio of -58.01 and a beta of 2.34. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. Root, Inc. has a one year low of $7.22 and a one year high of $118.15. The business’s 50 day simple moving average is $41.71 and its 200-day simple moving average is $51.38.

Root (NASDAQ:ROOT) last announced its earnings results on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of ($0.61) by $1.96. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business had revenue of $305.70 million for the quarter, compared to the consensus estimate of $272.77 million. During the same period in the previous year, the business earned ($3.16) EPS. Root’s revenue was up 165.1% compared to the same quarter last year. As a group, sell-side analysts predict that Root, Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROOT. Sequoia Financial Advisors LLC bought a new position in Root in the 1st quarter worth approximately $293,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Root in the 1st quarter worth approximately $1,171,000. Quantbot Technologies LP bought a new position in Root in the 1st quarter worth approximately $431,000. Price T Rowe Associates Inc. MD bought a new position in Root in the 1st quarter worth approximately $434,000. Finally, Tidal Investments LLC bought a new position in Root in the 1st quarter worth approximately $1,997,000. Institutional investors own 59.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ROOT. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of Root in a report on Tuesday, October 15th. Cantor Fitzgerald raised Root to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, UBS Group lifted their price objective on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.13.

Root Company Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.